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MAPX Token Weekly Profit Statement & News (MAXUV, HF21) - 1 September 2019

Welcome to this week's review.

The MAPX vote bond continues to deliver great value upvotes and is increasing its capital base. The main aim in the medium term remains to convert token holdings into voting SP, just that with so many undervalued tokens the easy profits are just too tempting! (This hasn't changed.)

Because of HF21, this has been a slow week in terms of sales. Indeed, with the ADDAX game coming to an end, we have been able to buy back some of our own MAPX tokens.

This has meant that all our value averages have increased, so that the VVT is now at 1.23 STEEM. With the market price around the 1.13 STEEM mark, MAPX remains good value for money.

Worth a reminder here that our parameters and benchmarks have not changed due to HF21. Sure, the values of upvotes will have changed but our value relative to what one can achieve with the same SP remains unchanged. Indeed, with increased curation rewards we should see our SP grow a bit faster.

We continue to build up our SP so that our last delegator will, at some point, no longer be required. Our SP has increased compared to last week, but profits have been low due to a slowdown in sales; the bulk of this week's profits have come from rewards and token trading.

And so, we enter another phase of Steem's existence. Upvotes now have a double function in that they both add to a post's rewards and they raise the overall rewards by pushing that post up the new reward curve. I wrote a couple of articles yesterday on how to think about upvotes and on why different platforms seem to show different values.

With MAPR token distribution and price increase due Monday, and the TULIP game finishing next week, we hope to sell off more token holdings and convert them to SP.

Have a good week!

Please note that I always qualify any forward predictions as they are subject to technical issues such as the proper functioning of the blockchain and our own algorithms. We are also aware that HF21 is imminent although there is no fixed date as yet.

The headline figures are:

MAPX tokens active = 9100
SP in @MAP10K = 7075
Mining SP = 4,000
Other STEEM = 2624
Total STEEM = 9699
Total Income = 96.50
Fee = 9.65
Total STEEM carried down = 9689

MAPX VV/Token = 1.23

Note that "Other STEEM" is the sum of all holdings not powered up as SP: liquid STEEM and SBD plus holdings within Steem Engine to maintain market liquidity plus some investments; we also now have stakes in MAPR, PAL and LEO, and some others, and receive rewards from them. Also note that values are volatile, especially any holdings priced in US$, so the above numbers are a snapshot and may have changed when you look at the @MAP10K account.

Income includes rewards and token trading profits but excludes token sales.

The Asset Backed Value (ABV) is our total holdings calculated in STEEM divided by the number of active MAPX tokens, whether staked or unstaked. This shall be used as the lowest price we offer MAPX tokens on the Steem Engine market.

If VVS > 1.0, then MAPX stake-holders are getting upvotes of greater value than the par 0.1% per token.

If VVT > 1.0, then MAPX tokens are under-priced on the market and good value to buy.

Full details of how the MAPX token operates can be found at New MAPX Token for Upvotes and Value Growth.

Any questions, please ask in the comments below.

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